Bangladesh’s stocks extend losing streak for fourth day

6:18 am June 13, 2017| Last Modified: 6:18 am June 13, 2017

BBN file photo

Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the losing streak for the fourth straight session on Monday as the major sectors showed mixed performance.
A moderate loss was observed in turnover of the Dhaka Stock Exchange (DSE) which Monday featured a value BDT 4.0 billion after eight sessions due to investors’ less participation, according to the market operators.
The market started the day’s session positively but shortly afterwards the DSE broad index DSEX witnessed a sharp fall that continued for more than 20 minutes.
After observing a recovery stance the broad index later witnessed volatility and eventually closed the session with a marginal loss in indices.
At the end of the session, such index closed at 5450.11 points with a loss of 0.09 per cent or 5.05 points.
The shariah based index DSES declined 0.15 per cent or 1.92 points to close at 1262.05 points, while the blue chip index DS30 went down by 0.37 per cent or 7.56 points to close at 2024.71 points.
Of total number of issues traded, 103 advanced, 157 declined and 67 were unchanged on the premier bourse DSE.
The turnover stood at over BDT 3.70 billion which was 21 per cent less than the turnover of the previous session.

“The market started with negative tune as the shaky investors continued their profit booking tendency in anticipating of further fall, while some adopted ‘wait-and-see’ approach amid ongoing market trend,” the International Leasing Securities explained.
It also said many investors moved to uplift the index in middle of the session but failed as the heavy sell pressure in food, cement and financial institution sectors pushed down the market in later part of the session.
Among the major sectors, which advanced, bank rose 0.2 per cent, fuel & power 0.1 per cent, engineering 0.2 per cent, service & real estate 0.3 per cent and travel & leisure 0.5 per cent.
Among the declining sectors, financial institutions lost 0.5 per cent, general insurance 0.4 per cent, life insurance 0.4 per cent, pharmaceuticals & chemicals 0.2 per cent, tannery 0.1 per cent and textile 0.2 per cent.
Investors’ concentration was concentrated mostly on textile sector which contributed 19.20 per cent in market turnover followed by bank 16.10 per cent, pharmaceuticals & chemicals 14.70 per cent, fuel & power 12.40 per cent and engineering 10.40 per cent.
Paramount Textile topped the turnover chart with a value of BDT 145 million followed by IFAD Autos BDT 117 million, LankaBangla Finance BDT 107 million, United Power Generation and Distribution Company BDT 99 million and Beximco Pharmaceuticals BDT 98 million.
Rupali Bank Limited was the number gainer with a rise of 4.66 per cent to close at BDT 26.90, while Savar Refractories was the worst loser after declining 9.24 per cent to close at BDT 49.10, the DSE data showed.
On the Chittagong Stock Exchange (CSE), the benchmark index CASPI closed at 16873 points with a loss of 42 points.
Of 224 issues traded, 68 advanced, 108 declined and 48 were unchanged and the turnover stood at above BDT 402.51 million on the port city bourse.

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